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tv   [untitled]    November 28, 2012 1:30pm-2:00pm EST

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breaking news a little eternity of angola's story. for you here. altie spanish to find out more visit actuality. if you're. going to take three months for a green. green. green. green. download free brown video for your media project free video down to our t.v. dot com. thirty minutes past the hour you're watching business r.t. the show's second largest mobile phone operator megaphone offered its shares to the public in moscow and in london on wednesday and then watched the stock slide in the
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first hours of trade and did manage to bounce back at the close to the placement level the i.p.o. raised one point seven billion dollars becoming russia's biggest in about three years ever since the metals giant saul offered its shares to the public and twenty town to get all the details let's cross over to our correspondents our first. well this is the biggest russian and this public offering this year russia's second biggest they've all operates a megaphone making is. the london stock exchange with a one point seven billion dollar capital raising funds sold its stock at an initial offering of twenty dollars. which is at the bottom end of that twenty to twenty five dollars estimated price so they certainly lowered their brains the company's controlling stake by russia's richest man. and although they listed at the bottom of that range honestly if they can see saying that megaphones
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a good solid company but launching this i.p.o. at a time when we're seeing a bit of nervousness amongst investors you've got the u.s. fiscal crisis you've got the european debt crisis going on also a lot of investors in this climate looking to reduce their exposure to the emerging markets which have pools russet is one certainly the timing of the i.p.o. could affect that share price initially indeed the i.p.o. market in the u.k. this year has been a little bit satie and relatively quiet in a. disappointing post i.p.a. performances so its success the megaphone right now we certainly see these thing confidence and sentiment about london's this things. all these listings maybe a confidence boost for some but other shy away from listing under the current market conditions and that's one of the reasons why boards have become the number one choice for many companies looking for financing according to you also. this
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year aboard a record forty billion dollars on the international markets to find out why they're doing it and how they're planning to pay it all back let's cross over to the business desk where nick is following this story so nick why do these companies need all this money and. why now will you remember the record part of that is four rolls and you have to have big chunk of it thirty billion of credit for their purchase of teeing k b p they have been some of the major purchases which sped by buying out volks buying and just yesterday russian railways position of gift card well it is it a good time to buy then it sounds like a europe is in the midst of a recession so it might actually come cheap well just because something is cheap clearly doesn't mean that it's good the crisis does present some opportunities but i love your list of all the key products reminds us quality is key.
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the priority for russian workers should not be so much borrowing more in order to spend more but rather the focus needs to be squarely on the quality of spending on the quality of the costs and quite simply cutting costs is very important so often for purpose and i think for international investors this is probably the key issue that they will be gauging in the course of next year the structure and the quality of the false or russian companies well that but draws nafta's very bank the russian royal wales all the companies you mentioned they're all seat own does it like the government is taken over this is really due diligence comes in there are a lot of petro dollars coming in it doesn't make sense for these companies be running around blowing up corporate real estate just because the going good they do
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have to make sure the they are doing it for business reasons and business reasons alone if there are political arguments in favor they should be ignored but being state owned did they do at least get good rates the interest rates i mean right that is true the credit rating of the government of course is better than that of nearly every company and the government is backing these companies with the comparable cheap pay the school so be remembered that the listing she has in the stock market does not buy great. the government. has this privatized action program but it's not like the timing is not right you have to remember the private companies are also having a tough time many of those have tried to have listings have had to withdraw at the last moment because they filed a lack of investor interest well but i mean borrowing is fine but the million dollar question is how are they going to pay it all back well this is where the due diligence comes in you have the who is the acquisition will turn out to be profitable company makes more money that will pay the money back that way it also
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has the potential to go for a share float at a later stage when the market conditions move favorably and of that was what you can then sell off. bits of the company enraged that way but it should be remembered that that is do you reach too hard this does become a problem it holds back investment for a company in its own development you need to look at so a company like roussel see how much thought can slow a company go. thank you very much nic pool at the business desk then it's time now to check out the markets on the currency markets the ruble shared value against the major currencies the euro is losing to the u.s. dollar now on to equities wall street is trading higher the sour after starting the session in the red the markets rebounded after another beat comments from the house speaker john boehner and european stocks also narrowed their losses thanks to banners comments the footsie and the dow so close to flock to positive here and
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russia the indices lost more than one percent each with the r.t.s. dropping polo the fourteen hundred level. and russian diamonds will soon shine in tiffany's artie's going to church account brings more from. one of the world's most coveted jewelry brands tiffany will start getting its precious rocks for more ship the russian diamond producing a little slow which happens to be the world's biggest producer of dime interest sealed a long term deal with the u.s. dollar giant companies known to have very high standards for diamonds they're buying them from a number of countries including canada australia and south africa they're expected to buy at least sixty million dollars a year worth of diamonds from the russian producer it's reportedly a three year contract a bit more about a little side if mine's a quarter of wald's diamonds ninety percent of the companies owned by the government its sales this year reached four and a half billion dollars so you could imagine that this share that tiffany will have
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a dollar also is revenue is going to be very very modest but because of tiffany's name and tiffany's almost cultural phenomenon with movies like records the tip unease and so on the deal will certainly have a very special will add a very special sparkle to the russian companies obama. well now the russians iman's can be the girl's best friends not only here in russia but also in the states moved on ukraine's much publicized deal to buy liquefied ganz from spain is quickly underground linked into a sham just doesn't monday ukraine proudly claimed that it will soon overcome its dependence on russia's gas at a pompous ceremony that prime minister mccall azar of the and the energy minister your boyko attended ukraine signed the one billion dollar agreement to build an l. and g. terminal in the odessa region its partner in the deal with spain's energy giant gas natural fit no sir via truck presented is mr sardo of bone but now it turns out
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signal so knows nothing about the deal not to mention that mr boeing is somebody they've never heard of according to the latest reports ukraine's delegation that in . clews foreign ministry official says urgently left for spain to clarify the situation will definitely keep you updated on the story and that's the latest from the business desk for now and in a few minutes our t. talks to a key british trade union leader about the widening gap between the government and the workers. the sun rises over what seems like and lowest forest but here in the new directions cry for hundred kilometers north of light of all storm as in much of the world it's disappearing at a catastrophic rate. mockers
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both illegal and those finding ways to outsmart the system for filing down the forest of the more skewed region for them profit goes well beyond the future of our planet and the result could be an ecological crisis the world wildlife fund for nature makes regular trips to help local rangers do what little they can to stop the logging but it's not easy lager set up trucks making them hard to reach in an already rough terrain and have mastered ways to jump through legal loopholes this is a nature reserve we're only sanitary logging of disease trees is allowed according to law and not a single berry can be picked but loggers like this use their sanitary logging permit to cut down absolutely healthy trees and sell the profitable timber over the border in china we are on the hunt for illegal loggers and it's not going to be
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easy the forests or nets in our chances are slim now for now we can stay in our dream but as soon as we find fall it tracks we'll have to drop our wheels and get out silently in order not to scare the loggers off alexander someone in ca has been a ranger for over twenty five years he can spend weeks at a time tracking a single group of loggers easier to work when snow falls in autumn it's impossible to find human tracks and even transport tracks are hard to see after hours of driving we get sent in the right direction by word of mouth you can see that the ground is soft here which means that the twelve the tractor trails are very fresh which in fact means that we need to be quite. in order to not scare them off as we get closer. this team says they're illegal but have no documents now xander can now call the police to take over his work here is done he is overwhelmingly outnumbered there are too few rangers working in the promoter ski
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region and the w w f says the government isn't doing enough to stop it i guess the government now is they started severe form worth of forest to just lay some sort of the bells and so on we've got the new forest court and according to the opinion of every forest service the guys involved in the in the forest through the still forest courts deal doesn't work just. as no one tries to stop them in just five years the forest will be gone they'll sell it all to china what will the people who live afterwards do. it's a question more and more people are aware of today climate change and the safety of our environment as a whole are being discussed around the world and perhaps it's those small steps that might be a start to people living in harmony with nature. today
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i'm talking to bob crow who's one of the u.k.'s most notorious union leaders he heads up the are empty the underground drivers union but chris thanks for talking to us now just in the past couple of weeks your members have gone on two separate strikes train cleaners and underground maintenance workers you've gained this reputation as the most strike happy union leader why you so quick to take action like this or not quick actually like the action i mean we have to have a power of our members a secret ballot the ballots conducted in the members are now and they can vote yes or no we always put a recommendation which what it should go to sleep. b. recommend they do take action we have the employer seven days notice before we start the power when we get the ballot result when we think of seven days no it's a month just for the ballot in process so we never actually conduct negotiations for a sign of a ballot for strike action. climbing we try to get what we came without going on
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strike eighty percent of our members we achieve what we want without going on strike for those employers that dig their heels in and not pay as here members a fair deal then is two options by simply you accept what the employer is offering or we say to our members who are reducing about it and in the mine member say they want to fight for better pay and indifference let's take those two strikes as an example what percentage of your members in those ballots in the true blue lines are the maintenance workers one of the workers that work on the truly northern picket line there is about fifty four percent turnout on the clean is one that is right about thirty five percent thirty seven percent thirty seven percent doesn't sound like very many know me and we would like more people to vote but they got the opportunity to vote some people don't vote because they want to see what the opposite doing but when you look at the local elections in. a local councillors are making decisions on people's cancel tracks and local rates and local decisions that
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are below ten eleven percent of the vote transport strikes can be some of the most disruptive even the short ones that we see now how do you justify making people's lives a misery when essentially all they're trying to do is get to work for them while we always apologize i mean we actually support the traveling public who we don't want to cause misery to them we want to get them from a to b. where we're pleased to get to work or see their loved ones in hospital or to enjoy themselves socially we want the railways and the buses to work in good for the traveling public but in that are you know you can't make an omelet and they should crack eggs and if your move involves mounts of people on a power. metro system that as soon as there's a problem then there's chaos but it takes two to tango it in the day you know it's the employers fault as well which i guess actually if the employer negotiated a proper someone with us there we would say action but sometimes you know you have to stand up and side with the impiety when you've been inside the with defending
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conditions and it does cause disruption i mean in some soames is the economic position because the employees come to the table and negotiate seriously of us isn't it your job to make those negotiations work without going on strike yes i mean our job is to actually go and try and persuade the employer the stream for all human and hopefully that the argument is conceded by the employer in a lot of occasions there aren't is conceivable the employer of occasions the employer and ask compromise and we reach a settlement in some other areas the employer says they're not in the pay it's about one inch and therefore the members of the make a decision to accept what the employees do in order to stand up and for having said all that strikes do you seem to be as terrifying a prospect as they once were why do you think that is well ended are you mean it's not the tariff on in the day is that the members are employed by the employer to do a job so once that person is not employed anymore e.g. by your own straw it has an effect within a company the reality is that workers haven't got much power at all all of the in
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the dry is that the employer is going to cut their pay and conditions is to combine together so the fed their selves one worker and their own can do nothing but when workers combine and be part of a union they came the time was all your members would have thought of themselves as working class but now there's much more of a tendency for people to refer to themselves as middle class has that affected the propensity to strike to think not really no i mean that in little way what is poor class more is middle class i don't know having of explain what it means. a lot of people. shares and by the whole known they become middle class. they're staying on the dole queue near with the same shares in their back pocket almost no point at the financial times of reading every day if you stand the dull looking for a job so to me working floors and middle class are where means or an hour is all of you come to work and you sell your labor to the employer or the employer owns your
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to do that work so the move is a boss's loss and if the working class is not such thing as a middle class you're now proposing another winter of discontent walkouts demonstrations surely nothing could be more damaging to britain's prospects for recovery than that thought or no i mean the reality is is that public sector workers are a minority more you must i say no payrolls for two years they've seen their pensions go up by three percent. then they're seeing their child benefit for a lot of them being stopped and what that really means is a massive attack on the stand to live in where inflation is going up by about nine or not percent in two years some of these people are no payrolls at all and their pensions are being put up on top of that they've been asked for the next two years to accept one percent over the next two years as well so we're not supporting when to do this consent to call to show up should with that is about so and that workers say the nuff said nuff next week for example and for him to november workers
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increase workers in spine. importer your all going to be out on the general strike so this could offer those poor because to defend themselves then we think you should not approach workers who design but you're not suggesting surely that the situation here is this bad as that in their pigs country it's it's not bad for everyone but it's certainly bad for them some people those people the public sector they're very they lost their job those people or their child benefit stops those people or their pensions put up on i think is very very bad for them and for these kids these young kids now leaving school what kind of hope will they go up wanting for them on the dole even if they go to university. a fifty thousand pain in their neck to be a student where they get to get a job where they're going to go home and where they're pinching the baby when they retire there is no hope at all for these young kids and we felt there's a better quality image in november fourteenth you are in support of a general strike yes i support general strike here i think that we should have
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a general strike next week with the rest of the countries that are taking action in europe in my view is pretty simple was that if they're attacking all workers together then we need to push your words up to give and defend ourselves we give up and walk out and take action to give you one of only three union leaders who support the idea of a general strike why can't you carry the other union leaders with you well that's not absolutely true that the leaders but certainly the unions do support the practicalities of looking at a general strike at that so you see congress this year the resolution was passed that we look at the practicalities of it now be that a prosecutor is mean that we can't but we certainly should look at it. but what other unions don't they so it doesn't worry me being a minority in the minority most more life but for now but later on in life the minority position or took is now the majority position and people support me it was years ago that people would be said seen dead with nelson mandela and there every single pole in the world was to be seen with nelson mandela because it looks so
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sexy and progressive so are things can change the fact is that these young kids are not in the park this forevermore they're not going to have a lot of time on the dole and what we really see is all the gains that was made since world war two in this country a national service comprehensive education a social studies that's all be that massively eroded and therefore the only option we've got or is to offer give our children a worser saw a all i care fathers and grandfathers and grandmothers and mothers gave us a bit as are you more of you in life is to make things better for people not worse you talk about the practicalities of a general strike i think people would like to know. what you look out before you endorse that i dare well number one is surely a legal restriction in this country. there's been a doctrine produced boy professor. john hendy q.c. leading barristers who are signing but you can have
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a political strike it's movie an international law where scientists have a look at their stories sets it see if we can do it what are the repercussions of going to hit with their what unions were prepared to support so the issue we're looking at the executor you see he saw that there will be anybody over it the general council we mean next month and we're be arguing are certainly will be arguing that if people can't persuade me that they can overturn or strike in we should be proceed in head to moma die in the spring called general strike there hasn't been a general strike for eighty six the air how do you expect to carry the general public with you for a general strike in twenty six probably none of us can remember it or certainly don't but i've been a couple of days of action since then the seventies for example five dock workers were put in prison called the pedophile five and the two you see general council called a strike unless these people were taken prisoner there's also the director that we
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had last november on the thirtieth which is a massive demonstration we had a massive demonstration this year a couple of weeks ago and the massive demonstration both in london a couple weeks ago but also in clans go belfast as well so i think there's massive matter support and support generates and when people start see in the the tacts will it be their kids not be able to afford to go to university their kids not be able to get social housing their mothers not be able to get meal was on we all means all of the social benefits been eroded child benefit been stopped often. that is got to do some. about it i think. is that you are uniting loads of people this country from different walks of life society that the government's policies are wrong and they go in there in the abyss really unless we put them out there because now and kids back to work what do you say to accusations that your your bellicose
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attitude is destroying not just the are empty but the union movement as a whole that these strikes and walk out sometimes over the welfare of just one single worker is what led to us all falling out with the union movement back in the seventy's well number one was certainly not in the or into your membership going up from fifty two thousand when i got elected. and now. doubled. over fifty percent in ten years and certainly we've achieved on the best pyrolysis. across the limper of the british in this great. regard in one work of the insights well that's the reason you join the union because that worker maybe you tamara and you expect your union support you if you has been dismissed so badly in lodi when that no power top is the workers at the power in the screen for the ballot box and in the strength of using that industrial action if soberly in the what we through in the diary is make it quite clear we are all trying to try and persuade the boss the case is right we
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want workers to earn money not lose money we certainly don't life in the morning by side who can we call them should want to try to though we would love to do so in everything. but once the employer takes their position and their position is not acceptable to our membership members then we can remember for it or don't for if you don't fight then you're to put up with the sign you do want to fight when you weighed in on the floor if chancellor george osborne having first class and a train with the wrong take it is it that you think that even the person who holds the second most important state post in the country should be travelling out of an apex if you say no not so on care less if you travel. so it's on members working a first class that's not the issue the issue was the why that you spoke to the member of style and say you know i'm always i'd say that you know i'm you know i'm busy. busy. person said together together the
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various everyone else thank you very much thank you. you know sometimes you see a story and it seems so you think you understand it and then you glimpse something else you hear or see some other part of it and realize everything you thought you knew you don't know i'm sorry welcome to the big picture. it was not the military x. army announced today it signed a new contract with the unit of the huge contract. it was not the operation to secure and rebuild the devastated country caliber company field taxpayers for its
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contract work in iraq. it was the campaign for making billions of dollars. on recyclable and hoarded bills exceed one billion dollars iraq for sale. or profiteers. the great russian warriors. prevailing over hazards and asperity. to reenact an epic parade through paris. come a complete triumphantly. people's admiration for two hundred. all the love boat. to glow.
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please. please. please. please. please. liz. please please please please please .
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russians would be so much brighter if you knew about someone from funniest impression. starts on t.v. dot com.


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